Xavier University's Bookstore, Starbucks and Graeter's are the first retail tenants to land at the University Station mixed-use development next to the college.

The Ackermann Group and Messer Construction Co. are developing the 15-acre site and the businesses will assume 40 percent of available retail at the site. Illinois-based Follett Corp. will operate the 11,000-square-foot bookstore with Starbucks and Graeter's inside the facility.

The 315,000-square-foot University Station site is in the midst of its $54 million first development phase. Slated for completion in August, the site will initially house 46,000 square feet of office space, 39,000 square feet of retail, 1,000 parking spaces and a 225,000-square-foot apartment complex for Xavier students and the community.

University Station is located at Dana Avenue and Montgomery Road straddling Norwood and Evanston.

The 479-bed, 178-unit apartment building is about 93 percent leased and the retail and office components at the development are planned to add life adjacent the campus.

"We are thrilled to have the opportunity to expand from campus into the Xavier neighboring community," said Michael Hubbard, director of the Xavier University Bookstore. The new store is nearly twice the size of the current on-campus store. It will also sell technology, supplies, clothing and gifts.

"The new space contributes greatly to our mission to maximize customer access to needed materials, as well as service as a central hub for the local community," Hubbard said.

Planning for the project's second phase is underway. Developers are mulling the addition of more office space, retail and a hotel on the remaining 300,000 square feet of property.

"University Station is spurring a revitalization of the community, that's been a long time in the making. It's an exciting time for those who live, work and study in the area," said Dobbs Ackermann, chief executive of Ackermann Group. "We're looking forward to move-in later this summer for our tenants and apartment residents."

U.S. Bank is among the project's financiers through a loan. Developers say an allocation of New Market Tax Credits from local and national sources is being finalized. Public infrastructure improvements are being funded through tax increment financing from the city of Norwood.

Costandi Studio is a project architect, Humphreys & Partners is the residential architect, and Martin Koepke Design is the landscape architect. The Kleingers Group is University Station's civil engineer. Jeffrey R. Anderson Real Estate is handling the retail leasing and CBRE is handling commercial leasing.